EJS Group Acquires Multifamily Property In Lenox Hill For $32.35M

The multifamily property located at 1303-1305 Third Avenue, 1307-1309 Third Avenue, and 202 East 75th Street in Lenox Hill has been sold for a total price of $32,350,000. The property has a total building square footage (BSF) of 81,780, with a price per BSF (PPBSF) of $395. The total square footage (SF) of the property is 31,152, with a price per square foot (PPSF) of $1,038. The property consists of 43 units, with a price per unit (PPU) of $752,325. The sale of the property took place on 03/11/2021. The buyer is EJS Group, while the seller is Gastonia Properties.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $32,350,000
• Address: 1303-1305 Third Avenue, 1307-1309 Third Avenue, 202 East 75th Street
• Market: Lenox Hill
• BSF: 81,780
• PPBSF: $395
• SF: 31,152
• PPSF: $1,038
• Units: 43
• PPU: $752,325
• Buyer: EJS Group
• Seller: Gastonia Properties

The property has a floor area ratio (FAR) of 3.87 and belongs to tax class 2. The lot size is 3,000 square feet, with lot dimensions of 40 ft x 75 ft. An alteration type 2 permit was obtained on 11/06/2019.